“Canva Partners with Watershed for Innovative Solar Energy Procurement Agreement to Reduce Emissions”

Graphics software company Canva has taken a significant step towards reducing its carbon footprint by signing a unique solar energy procurement contract with sustainability services firm Watershed. This groundbreaking agreement will help Canva’s largest printing suppliers cut their emissions and support the development of new community solar projects in Illinois, a state known for its rapid growth in renewable energy.

The virtual power purchase agreement, which is cofunded by Canva and its printers, aims to reduce Scope 3 emissions from Canva’s supply chain. Additionally, the companies behind Canva Print, a service that allows users to create books and posters from their designs, will benefit from cuts to their Scope 2 emissions related to electricity usage.

Despite not directly using the power generated by the solar projects, the companies involved will match the electricity emissions produced due to their association with Canva. This collective effort is expected to initially offset 40,000 megawatt-hours annually, with any excess electricity being sold to local utilities to fund solar power initiatives for renters and low-income households.

What sets the Canva-Watershed contract apart is its unique characteristics:

1. Modest scale: The agreement covers a smaller load compared to traditional virtual power purchase agreements, making it more accessible for companies using less than 50,000 megawatt-hours annually.
2. Fixed price: Watershed will bear the risk of price fluctuations, ensuring a stable cost for Canva and its suppliers.
3. Short terms: The contract spans five to seven years, offering a shorter commitment period than typical agreements lasting 12 to 20 years.
4. Demonstrable impact: The projects will contribute to increasing solar power on the grid, particularly in regions where clean energy adoption is relatively low.

Canva’s proactive approach to sustainability, including its membership in The Climate Pledge and commitment to achieving net-zero emissions by 2040, underscores the company’s dedication to environmental responsibility. By engaging its print suppliers in this innovative clean energy initiative, Canva is not only reducing its carbon footprint but also setting a precedent for collaborative sustainability efforts within the industry.

The participation of Canva’s key print suppliers, such as RPI Print, Taylor, Blooming Color, Brook & Whittle, and Digital on Demand, highlights the shared commitment to sustainability among industry partners. This collaborative approach to offsetting emissions through renewable energy projects demonstrates a genuine effort to address environmental challenges without resorting to greenwashing tactics.

Overall, the Canva-Watershed contract represents a significant milestone in the journey towards a more sustainable future, showcasing the power of collaboration and innovation in driving positive environmental change.